YEREVAN. – Armenia will receive a US$50-million loan from the World Bank (WB), for the state budget needs of the country.

The draft of the respective loan agreement was approved at Thursday’s Cabinet session of the government.

Accordingly, the International Bank for Reconstruction and Development (IBRD) will provide these funds that are allocated within the framework of the Fourth Development Policy Loan of the WB.

This loan will be provided for 25 years, with a 14-year grace period.